boohoo group (DEBS) investor relations material

Executive summary

• Delivered £53m Adjusted EBITDA for FY26, a 36% year-over-year increase, surpassing upgraded guidance.

• Achieved a 76% increase in H2 Adjusted EBITDA, reflecting strong operational improvements.

• Multi-year turnaround strategy progressing, with a pivot to a stock-lite, capital-lite, profitable marketplace model.

• Cost base reset, warehouse consolidation, tech re-platform, and brand management enhancements completed.

Financial highlights

• FY26 Adjusted EBITDA reached £53m, up 36% year-over-year.

• Net debt at year-end was £90m, less than 2x Adjusted EBITDA.

• Capex reduced from £28m to £16m in FY26; expected to fall to £8m in FY27.

• Lease costs in FY26 were £18m, expected to reduce to £13m in FY27 and further to £6m after US property exit.

• Interest costs for FY26 were £21m, expected to decline as deleveraging continues.

Outlook and guidance

• FY27 guidance raised, expecting double-digit percentage growth in Adjusted EBITDA.

• Net debt projected to fall below 1x Adjusted EBITDA by end of FY27.

• Free cash flow and operating cash flow expected to materially improve due to lower exceptional costs and reduced capex.

• Depreciation forecast to drop from £59m in FY26 to £20m in FY27.